A lawyer opening an IOLTA account must require the credit union to sign this form, agreeing that whenever a check is presented against a lawyer’s trust account or fiduciary account that has insufficient funds to cover that check, the financial institution must report the overdraft to OLR, regardless of whether or not the financial institution pays the check or returns it due to insufficient funds. The form includes instruction on proper titling of trust accounts and proper check formats.
WI Courts: Agreement to Notify Office of Lawyer Regulation of Overdrafts on Lawyer Trust Accounts and Fiduciary Accounts (6/1/2010)
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